Page 1072 - Finance News
Capital First to raise Rs 350 crore from IFC
IFC will subscribe to CFL's secured non-convertible debentures
 "Capital First to raise Rs 350 crore from IFC")
New banks set to create 25,000 small town jobs
Experts say on average, each of the new banks will have to recruit 500-1,000 people in the next 18 months
 "New banks set to create 25,000 small town jobs")
Banks can upgrade loans for recast outside SDR
But, no exemption from Sebi's price norms for debt to equity conversion
 "Banks can upgrade loans for recast outside SDR")
RBS Bank to exit private banking business in India
Sanctum Wealth management acquires its business
 "RBS Bank to exit private banking business in India")
IDFC Bank targets 15 million customers in five years
Aims for 10-15% net profit growth, Rs 15,000-cr business from rural banking
 "IDFC Bank targets 15 million customers in five years")
RBI allows banks to provide partial credit enhancement to corporate bonds
Will enable corporates to access the funds from the bond market on better terms
 "RBI allows banks to provide partial credit enhancement to corporate bonds")
SBI, ICICI Bank get permanent seat at lender's forum for distressed assets
Dissenting lenders should exit consortium, says RBI
 "SBI, ICICI Bank get permanent seat at lender's forum for distressed assets")
IDFC Bank to focus on technology over branches for retail ops
The new bank's logo was unveiled and the the top management team was introduced
 "IDFC Bank to focus on technology over branches for retail ops")
RBS signs agreement to transfer India private banking business to Sanctum Wealth
RBS did not give financial details of the deal
 "RBS signs agreement to transfer India private banking business to Sanctum Wealth")
Small banks in Rs 4,000-cr fix to raise domestic funds
RBI requires foreign shareholding to be brought down to 49%; Sebi prohibits tapping domestic PE
 "Small banks in Rs 4,000-cr fix to raise domestic funds")
SBI Card expects most card transactions to be online
In terms of number of cards issued, SBI Card's present market share is close to 15%
 "SBI Card expects most card transactions to be online")
Citibank launches new savings bank account offerings
For a Citi Priority account, the customer needs to maintain a banking relationship of Rs 15 lakh
 "Citibank launches new savings bank account offerings")
CARE Rating downgrades SREI Infra Finance's long term ratings
Falling asset quality triggers rating review
 "CARE Rating downgrades SREI Infra Finance's long term ratings")
Mundra says JLF will be streamlined further soon
Dy Governor of RBI asserts that purpose is to make consortium lending and restructuring more transparent
 "Mundra says JLF will be streamlined further soon")
Repo in corporate bonds to bring liquidity to traders
Though bi-lateral repo in corporate bonds is allowed, volumes are absent because of counter party risks
 "Repo in corporate bonds to bring liquidity to traders")
IDFC-IDFC Bank demerger: Fireworks missing
Banking operations open up many positives along with some challenges
 "IDFC-IDFC Bank demerger: Fireworks missing")
Union Bank working on SDRs for two mid-size accounts
Bank's focus is on those accounts to which only one or two lenders have exposure
 "Union Bank working on SDRs for two mid-size accounts")
IFC has stakes in more than half the small finance banks
Borrowing at a lower rate would be a challenge since the erstwhile MFIs cannot get priority sector lending from banks
L&T Finance-Bain Capital deal: positive for the stock
L&T Finance raising funds at a time when markets are more volatile with scepticism over the India growth story is an indicator of the financial and management strength of the company
 "L&T Finance-Bain Capital deal: positive for the stock")
 "Skip Sept date with rates")